Consolidated Infrastructure collapse angers Fairfax Africa ahead of Helios merger
The merger between Canadian investment fund Fairfax Africa and Helios Holdings Limited will expand the new entity beyond South Africa, a country particularly affected by the recession.
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▪ Consolidated Infrastructure collapse angers Fairfax Africa ahead of Helios merger
▪ The merger between Canadian investment fund Fairfax Africa and Helios Holdings Limited will expand the new entity beyond South Africa, a country particularly affected by the recession.
▪ http://www.jeuneafriquebusinessplus.com/en/806090/consolidated-infrastructure-collapse-angers-fairfax-africa-ahead-of-helios-merger/
16/11/2020 at 16h27, by Tarik Bargal
After having invested some €55m last year in South African engineering company Consolidated Infrastructure Group Ltd (CIG), Fairfax Africa Holdings Corporation (FAH) has seen the subsidiary’s operational setbacks erode almost all its financial contribution. CIG’s market value on the Johannesburg Stock Exchange fell below R 30m (€1.6m) at the end of last week. On 11 November, CIG announced to its investors and creditors that it was suspending payments, triggering a plunge in the share price, which hit a low of R 5 on 9 November. In contrast, the share was trading at R 123 on 14 November 2019.
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